Silver markets rallied during the day on Friday, breaking above the top of the shooting star from the previous session. This of course is a bullish sign
Silver markets rallied during the day on Friday, breaking above the top of the shooting star from the previous session. This of course is a bullish sign and I believe that the next area of contention will be closer to the $18 level. The major moving averages have crossed just below although they are flat. Nonetheless, I would anticipate that they offer a certain amount of support. I believe Silver is going higher, so therefore I look at pullbacks as potential buying opportunities in a market that has quite a bit of strength underneath it.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.